Question

A shopkeeper marks his goods at 10% above its cost price and allows a discount of 10 % .what percent does he gain or loss?

Answer 1

m.p= c.p+10%of cp
let c.p=100
m.p= 110
discount =10%on m.p
so ,discount=11 rupees
sp=m.p-discount
s.p=110-11=99 rupees
as ,sp is less than c.p so loss
loss%=( c.p-s.p)*100/c.p
(100 -99)*100/100
i.e 1%

Answer 2

Answer:

He incurred a loss by selling the goods and loss % = 1%

Step-by-step explanation:

Given,

The marked price is 10% above the cost price

Discount = 10%

To find,

The percent of gain/ loss

Recall the formula

Discount = Marked price× discount %

Selling price = Marked Price - Discount

If SP >CP, there is profit, and profit = SP -CP

If SP<CP, there is loss, and loss = CP -SP

Profit/loss % = $\frac{Profit\ or\ Loss}{Cost\ price } X100$

Solution:

Let us take the cost price be '100'

Since Marked price is 10% above cost price

Marked price = 100+10%10 = 100+10 = 110

Also given discount offered =10%

Then discount = Marked price× discount %

= 110 ×10%

= 11

Discount = 11

Selling price = Marked price -  discount

= 110 - 11

=99

Selling price = 99

Since selling price is less that cost price, there is loss

Loss = CP - SP = 100 - 99 = 1

Loss Percent =$\frac{loss}{Cost \ price }X100$%

= $\frac{1}{100}$ × 100%

= 1%

Loss % = 1%

He incurred a loss by selling the goods and loss % = 1%

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